Elastic NV (ESTC) shares rose 21.8% to $101.95 in pre-market trading after the search and data analytics company reported fiscal first-quarter 2027 results that beat Wall Street expectations and raised its full-year outlook. Adjusted earnings came in at 70 cents per share versus a 58-cent consensus, while revenue reached $478.113 million against a $469.745 million estimate, up 15% year over year. Sales-led subscription revenue climbed 18% to $399 million, and non-GAAP operating margin was 16.2%, ahead of company guidance. CEO Ash Kulkarni said Elastic beat guidance across all key metrics and that AI is reshaping the enterprise technology stack. The company lifted fiscal 2027 adjusted earnings guidance to $3.29–$3.37 per share from $3.21–$3.29 and revenue guidance to $1.998 billion–$2.010 billion from $1.985 billion–$2.000 billion. It added more than 80 net new customers with annual contract value above $100,000—its largest such increase on record—bringing that total above 1,800, while more than 37% of those high-value customers now use Elastic for AI workloads, up from about 21% a year earlier. Analysts at Baird, Guggenheim, Rosenblatt, BofA Securities and Cantor Fitzgerald raised price targets while largely maintaining ratings.